COVID-19 Targeted Credit Facility: CBN Injects Fresh N100B- Apply
COVID-19 Targeted Credit Facility: CBN Injects Fresh N100B- Apply: In a drive to minimize the effect of the covid-19 pandemic on businesses across the nation, the Apex in Nigeria, headed by professor, Godwin Emefiele, has on behalf of the Federal Government inject another 100 Billion naira to rejuvenate the economy
The COVID-19 Targeted Credit Facility loan programme will be funded with additional 100 Billion naira, more businesses will come alive with this addition, the CBN governor added
The CBN made this announcement, Monday the 24th of May 2021, at the Central Bank of Nigeria Communique No.136 of the Monetary Policy Committe
Update On the COVID-19 Targeted Credit Facility loan
Over N150 Billion was earlier received and utilized:
- The COVID-19 TCF had earlier received a recent boost of N150 Billion summing up to N300 Billion made available for the Loan Scheme.
- N253.4 billion has been disbursed to 548,345 beneficiaries – comprising 470,969 households and 77,376 SMEs.
- CBN has disbursed N111.7 billion to 29,026 beneficiaries under the AGSMEIS Scheme.
- Emefiele noted that the intervention facilities under the Anchor Borrowers was N631.4 billion disbursed to 3,107,949 small holder farmers cultivating 3.8 million of land hectares.
“Under the National Youth Investment Fund, N2.04 billion was disbursed to 7,057 beneficiaries, of which 4,411 were individuals and 2,646 were SMEs.”
“Under the Creative Industry Financing Initiative, the CBN has disbursed N3.19 billion to 341 beneficiaries across movie production, movie distribution, music and software development”
“Under the N1 trillion Real Sector Intervention, N856.3 billion had been disbursed for 233 real sector projects, of which 77 are in light manufacturing, 36 in agro-based industry, 30 in services and 11 in mining.”